Consumers will be required to take advice on virtually every change to their mortgage if it falls un...
Consumers will be required to take advice on virtually every change to their mortgage if it falls under current European Commission proposals. The Council of Mortgage Lenders has warned the EC's Consumer Credit Directive (CCD) will require some homeowners to take financial advice every time they consider making even a minor change to their policy, unless the UK government successfully lobbies to remove all mortgages from the CCD. This is because the definition European officials have given some products label certain housing loans and mortgages as consumer credit, whereas most UK ...
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